san francisco real estate market: August 2020 San Francisco Real Estate Market Update
- 09/18/20 04:10 PM
Single family home prices nudged up a bit year-over-year while condo and loft prices remained flat in August. New listings for single family homes decreased compared to last year and last month, but they also saw an increase in active listings by the end of the month. Meanwhile condos and lofts increased for both. As more inventory comes on the market more homes are selling closer to their asking price and fewer are selling for gang-busters over their list price.
But the "big story" I'm asked a lot about is the condo market. August marked the third month in a row that … (1 comments)
san francisco real estate market: July 2020 San Francisco Real Estate Market Update
- 08/26/20 11:22 AM
Median prices were up year-over-year in July, showing San Francisco real estate continues to be a healthy market albeit not has "gangbusters" as we've seen in years past. After years of weak inventory we're seeing an influx of new listings particularly in the condo market, with some neighborhoods seeing buyers market levels of inventory available. Currently it's a mixed market with both prices and inventory rising, and single family homes seeing greater demand than condos. See all the stats below.
Median Sales Price: Home sales overall rose in July compared to the same month last year. The median sales price for a single … (1 comments)
san francisco real estate market: February 2020 San Francisco Real Estate Market Update
- 02/11/20 10:47 AM
Happy Lunar New Year! It may be the Year of the Rat this year, but so far it doesn't look like it's the year of more housing inventory for San Francisco. In January the median price for single family homes and condos and lofts increased, but both new and active listings were down double-digits. It's important to contextualize, though, that in real estate the statistics are typically 30-60 days behind. Home sales that closed in January are primarily homes that were put on the market over the holiday season. Also, Spring is typically our biggest season when the most homes come on … (1 comments)
san francisco real estate market: San Francisco Real Estate 2019 Market Statistics by District
- 01/23/20 11:32 AM
In 2019 the median price for a San Francisco home grew by 2.1%, the smallest growth we've seen in years. Single family home prices grew by just 1.3%. Condo and loft prices grew by 3.9%. (If you want to see all of my market statistics for 2019 you can find them here). But not all areas grew or contracted equally. Below are the 2019 statistics for median sales price for homes broken out by district. San Francisco is broken into 10 districts, with multiple sub-districts and neighborhoods comprising each larger district. You can see a map of San Francisco's districts here. If … (2 comments)
san francisco real estate market: San Francisco Real Estate Market Update: October 2019
- 10/21/19 02:13 PM
There's been a lot of chatter about the softening of the San Francisco real estate market, particularly in the past couple of months. The good news, though, is that buyers are still buying and sellers are still selling. Interest rates remain incredibly low and people still want to own a piece of this beautiful city. The San Francisco market continues to see sales price growth, though perhaps more modest than what we've seen in recent years even including the solid growth of the market this past Spring. It's important to note, though, that real estate is both cyclical and seasonal. A cycle … (5 comments)
The July statistics for the San Francisco real estate market are out and you can check them out below. As always, if there is anything I can help you or someone you know with regarding real estate, don't hesitate to reach out.
Median Sales Price: The median sales price for homes dropped in July compared to June. This in and of itself isn't suprising. The Spring selling season typically brings the highest prices annually, and June is when the last of those transactions are closing. The summer … (1 comments)
san francisco real estate market: San Francisco Real Estate Market Update - March 2019
- 03/14/19 11:05 AM
We are in full swing for the 2019 San Francisco real estate market. Median sales prices ticked up compared to last month, though single family home prices were down compared to the same month last year. Inventory is again anemic with fewer new listings than last month or last year. The average days on market are also shortening compared to January , though they are still longer than what we saw for most of last year. Check out all of the February stats below!
Median Sales Price: The median sales price for a single family home shot back up to over $1.5 million, … (3 comments)
san francisco real estate market: San Francisco Real Estate Market Update - February 2019
- 02/13/19 12:10 PM
January sales are typically among the lowest of the year. That is because in real estate, the data is the result of what the market looked like 30-45 days prior. So January sales reflect what was happening and on the market in late November and December. In these months, sales are slower as sellers hold off until after the holidays, particularly in the higher-priced luxury market, and many buyers take a break as well. The good news is that so far February seems to be picking up. We've gotten more inventory on the market and judging from the open houses I've hosted … (1 comments)
Generally speaking, San Francisco home sellers did quite well in 2018. The median price for single family homes grew 13% year over year, and condos and lofts median prices grew almost 5%. Homes sold rather quickly and most for more than their list price. Here's how the year shook out:
Median Sales Price: The median sales price for 2018 reached $1.6 million, up 13% compared to last year as previously stated. The almost 5% bump for condos and lofts brought their median price to just over $1.2 million. Average Days on Market : Thanks to continued anemic inventory available, homes in 2018 … (4 comments)
san francisco real estate market: San Francisco Real Estate Market Update - Sept 2018
- 09/28/18 01:08 PM
Traditionally, August is among the slowest months in San Francisco Real Estate. Buyers take off on holiday in search of warmer weather while sellers hold off if possible until putting their home on the market for the Fall selling season. Over the past several years, buyer demand has kept the market aloft during summer months, but this year there did seem to be a slight cooling. Prices for single family homes actually decreased slightly (though condo/ loft prices were up), and while the majority of homes sold for over their asking price buyers weren't willing to pony up as much as … (2 comments)
san francisco real estate market: San Francisco Real Estate Market Update - August 2018
- 08/19/18 12:25 PM
In spite of being in the "slower" summer months, the San Francisco real estate market continued to tick on at a fairly steady pace in July. Median prices rose slightly compared to June. There was less inventory than in any previous July in the past decade, so unsurprisingly the majority of single family homes and well over half of condos and lofts sold for over their list price. Homes are selling quickly, in under a month, and the supply of inventory is low. Check out all of the details in the charts below.
Median Sales Price: Single family homes jumped again in July to … (1 comments)
san francisco real estate market: San Francisco Real Estate Market Update - July 2018
- 07/25/18 02:42 PM
We are officially in what we call the Summer Doldrums. Whereas in other parts of the country, summer is one of the busiest months for real estate here in San Francisco it is among the lightest, with only the holiday season being slower. Perhaps it's the fog and chillier weather that compels people to get out of the city in search of summer heat. Whatever the reason, keep this in mind while reading some of the below statistics.
Median Sales Price: Median prices for single family homes remained relatively flat in June, though they rose 11% compared to the same month last … (1 comments)
san francisco real estate market: San Francisco Real Estate Market Update - June 2018
- 06/19/18 04:46 PM
After significant jumps in median sales price earlier this year, particularly for single family homes, the market has mostly remained flat for the 2nd quarter. New and active listings continue to be down double-digits compared to the same month last year as our anemic inventory situation continues. On the other hand, months supply of inventory was at its lowest point since January, particularly for single family homes. The percentage of homes selling for over asking price also jumped. For single family homes it was the highest since September of last year; for condos and lofts since May 2016. See the latest … (1 comments)
I've been spending a lot of time in Pacifica lately with clients who had been looking for, and have now just closed, on a new home there. Everytime I go, I am reminded about how much I love it: the water, the mountains, the community. Driving down Highway 1 as the Pacific Ocean appears suddenly around a curve still makes me tingle. All of this time there also reminded me of one of my all-time favorite hikes, the Montara Mountain Trail in Linda Mar. The gorgeous weather last weekend inspired me to dust off my hiking shoes and hit the trail again. … (1 comments)
san francisco real estate market: San Francisco Real Estate Market Update - May 2018
- 05/18/18 03:03 PM
After months of hearing that interest rates were expected to rise, we are now seeing that come to fruition. Last week the 30-year fixed rate hit the highest it has been in 7 years. Rates have since fluctuated a bit (for example, on the morning of this writing they went down). Still, overall, most are expecting rates to continue to rise. This doesn't seem to have affected buyer activity thus far, but a 1/2 or full point on a mortgage can make a big difference, so that may change if rates continue to climb.
Here are the numbers for April:
Median Sales Price: … (1 comments)
san francisco real estate market: San Francisco Real Estate Market Update - March 2018
- 03/15/18 02:07 PM
What's that old expression about March coming in like a lion and going out like a lamb? That lion sure has been roaring! I hope you've kept safe and dry over the past couple of weeks. I'm definitely looking forward to some warmer, dryer weather.
The wet weather doesn't seem to have slowed down the San Francisco real estate market though. In February the median sales price for single family homes spiked again, and with inventory still down double-digits, the vast majority of homes are selling quickly and for over their asking price. Here are the numbers:
Median Sales Price: A new high … (0 comments)
san francisco real estate market: San Francisco Real Estate Market Update - February 2018
- 02/24/18 03:45 PM
January was a bit topsy turvy. The new tax laws went into effect, the stock market plunged and then mostly settled again. So far, though, none of this seems to have effected our red-hot real estate market. What remains to be seen is whether anticipated interest rates hikes might have an impact in the future. Just today new Fed Chairman Jerome Powell seemed upbeat about the economy, leading many to believe that the Fed will increase the number of interest rate increases in the coming year from a planned three to four. Many also believe the first of such increases could happen … (0 comments)
Median Sales Price: Unless you've been living under a rock, you probably already know that home sale prices increased in 2017. Single family homes ended the year with a 12-month rolling median price of $1,420,000, up 7.2%. Condos and lofts prices were up 5.5% to $1,155,000 for the year. 2017 Median Price by Number of Bedrooms: I thought it would be interesting to see what the annual increase in median price for homes were when broken out … (0 comments)
How Low Can We Go? August saw the lowest levels so far this year in new inventory, active listings, and months supply of inventory (MSI). For buyers, one welcome statistic that also decreased was the median sales price for a single family home, althought it was only $20,000 less than last month.
Active Listings: The number of active single family homes was down over 30% compared to August of last year. Condo/ loft listings dropped more than 25%. This is the lowest amount of active inventory we've seen since December, 2016. New … (0 comments)
san francisco real estate market: San Francisco Real Estate Market Update - July 2017
- 08/14/17 11:30 AM
Where's the Inventory?? It's great to be home after a nice vacation in hot, humid New York. I'm not sure I've ever missed our cool, foggy summer so much! We're now deep into the summer selling months, which in San Francisco is typically light on inventory, and this year is certainly not deviating from that history. This year seems even more anemic than years past and in fact, looking back through the past 10 years I couldn't find another July with less new inventory or even overall active inventory on the market.
Single family home prices nudged up a bit year-over-year while condo and loft prices remained flat in August. New listings for single family homes decreased compared to last year and last month, but they also saw an increase in active listings by the end of the month. Meanwhile condos and lofts increased for both. As more inventory comes on the market more homes are selling closer to their asking price and fewer are selling for gang-busters over their list price.
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